Frequently Asked Questions About P2P Trading

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Peer-to-peer (P2P) trading has become a cornerstone of the digital asset ecosystem, offering users direct, decentralized access to buy and sell cryptocurrencies using fiat or other payment methods. Whether you're new to crypto or an experienced trader, understanding how P2P platforms operate is essential for secure and efficient transactions. This guide dives into the most common questions surrounding P2P trading, covering everything from supported currencies and identity verification to transaction limits, payment methods, and dispute resolution.

What Is P2P Trading?

P2P trading refers to a decentralized marketplace where users trade directly with one another without intermediaries setting prices or facilitating the exchange. On platforms like Bybit, P2P enables individuals to buy or sell crypto at mutually agreed-upon rates. The platform acts as a facilitator by providing a secure environment, escrow services, and dispute resolution tools—but it does not provide buy/sell quotes itself.

This model promotes flexibility, competitive pricing, and broader access to payment options across regions.

👉 Discover how P2P trading can give you more control over your crypto transactions.

Supported Cryptocurrencies and Fiat Currencies

A key advantage of modern P2P platforms is their wide support for both digital and fiat currencies. Users can trade major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USDT, and others using local fiat currencies like USD, EUR, GBP, INR, and more.

For the most up-to-date list of supported assets and regional availability, always refer to official resources such as the P2P Order Limits page. These details are regularly updated based on regulatory compliance and market demand.

Core Keywords:

Identity Verification (KYC) Requirements

Yes, identity verification—commonly known as KYC (Know Your Customer)—is required to participate in P2P trading. This applies to both individual and business accounts. KYC helps ensure platform security, prevent fraud, and comply with global financial regulations.

If you're setting up as a business trader or high-volume seller, Business KYC may be necessary. Completing this process enhances trust with potential trading partners and often unlocks higher trading limits.

Availability Across Devices

P2P trading is fully accessible on both desktop and mobile devices. Whether you're using the official website or the mobile app, the interface remains intuitive and feature-rich. You can monitor orders, manage payment methods, communicate with counterparties, and resolve issues seamlessly across platforms.

Minimum Trade Amounts

The minimum order amount varies depending on the advertiser's settings. While the platform may set baseline thresholds, individual sellers define their own minimum and maximum trade ranges. Always check the specific listing before placing an order.

Transaction Fees on P2P Platforms

One of the biggest advantages of P2P trading is that there are no transaction fees charged by the platform for buyers or sellers. However, keep in mind that third-party payment providers—such as banks or digital wallets—may impose their own processing fees depending on the method used.

This fee-free model makes P2P an attractive option for cost-conscious traders.

👉 Learn how zero-fee P2P trading can maximize your returns.

Why Am I Not Eligible to Trade?

You may be marked as ineligible if you don't meet the criteria set by the advertiser. Common requirements include:

Clicking the “Not Eligible” button will show which specific conditions you haven’t met, allowing you to take corrective action.

Accepted Payment Methods

P2P platforms support over 300 payment methods globally, including:

To add your preferred method, go to your P2P User Center → Payment Method → Add Now. Make sure your selected method matches exactly what the advertiser has listed to avoid failed orders.

FAQ: Why Is There a Generic "Bank Transfer" Option?

While many banks are listed individually, the general “Bank Transfer” option exists for users who wish to add institutions not yet included in the system. It serves as a flexible fallback for regions with less common banking networks.

FAQ: I Added a Payment Method—Why Can’t I Use It?

Even after adding a payment method, it must match the exact type specified in the seller’s ad. For example, if they accept only "SEPA transfers," a standard bank transfer won’t suffice unless explicitly allowed.

Ensure your profile reflects accurate and complete information to streamline future trades.

Trading Across Borders

Yes, you can trade with users from other countries as long as you can send or receive funds in the requested fiat currency. Cross-border P2P trading increases liquidity and offers better price discovery, especially in regions with limited banking infrastructure.

However, be mindful of exchange rates, transfer delays, and potential compliance issues when dealing internationally.

How to Resolve Transaction Issues

If you encounter problems during a trade, contact customer support through the official help portal. When submitting a ticket:

Support typically responds within 1–2 business days via automated email with a case reference.

Handling Disputes and Appeals

Before escalating to support, use the in-order chat function on the P2P Orders page to communicate directly with your counterparty. Many issues can be resolved through simple clarification.

If no agreement is reached, you can file an appeal. Be sure to prepare evidence such as:

Refer to official guides like How to Submit an Appeal for Your P2P Order for detailed steps.

FAQ: Can I Be Both a Block Trader and Verified Merchant?

Yes, provided you meet the eligibility criteria for both roles. However, maintaining dual status requires separate security deposits. In case of disputes, your highest-tier status determines priority in processing appeals.

Unlocking Your Security Deposit

To withdraw your security deposit as a Block Trader:

  1. Visit the advertisement page
  2. Initiate the unlock request
  3. Ensure all active orders are completed and unresolved appeals are closed

Once submitted, your Block Trader identity will be automatically removed.

Following and Blocking Other Traders

You can follow trusted advertisers by clicking their username and selecting Follow. This allows you to track their activity and new listings.

To manage blocked users:

Note: If you're not an advertiser, you won't see listings from users you've blocked—or who have blocked you. Advertisers can still view ads but cannot transact.

FAQ: Why Can’t I Trade After Unblocking Someone?

Even if you unblock a user, they may still have you on their blocklist. Try selecting a different advertiser to proceed.

Additional Verification Requests

Some ads display a “Requires Verification” tag. This means the seller requests extra documentation—such as proof of address or ID—to approve your trade. These are legitimate measures to reduce fraud risk.

Providing requested documents increases your chances of successful trade execution.

FAQ: What Happens If I Cancel Due to Failed Verification?

If you cancel because you can't complete verification—or the merchant rejects you—it won’t affect your completion rate or daily cancellation limit. This protects users from penalties due to external verification hurdles.

👉 See how easy it is to start trading securely with global partners today.